Forum Replies Created
Uncivilised,
If you bought your IP after Jul 2000 then you can buy a home and get the FHOG.
If you are aboth entitled then you can jointly buy the property.
Please post any additional questions.
I would urge you to get your serviceability checked out as well by a banker or broker.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Lodoc loans are for those who cannot prove their income but have a 20% deposit or equity available to them.
I don’t kow that they are the answer for this scenario.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Quote:Originally posted by brahms:Simon, surely you mean NAB don’t pay commision to brokers for deals to existing customers (transparent)
That is true – but my contacts there who bend over for me are all in the new business section and don’t deal with existing customers.
I would help if I could. Others here can testify to the assistance I freely give expecting no reward.
I am sure you weren’t being offensive and sorry I took umbrage.
Cheers mate,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
20 July – I like red wine.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Just remember that time heals all mistakes in real estate.
Hold onto it. Make sure your loan is the best one and soon the value and rent will increase.
In the meantime reflect on what you have learnt and plan your next one with those lessons in mind.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
What interest rate are you currently paying?
As suggested IO is an immediate wasy to reduce the repayment.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Some lenders wont touch ex petrol tank sites because of the environmental bill associated with them.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Alf,
The prob with the NAB is that if you are an existing customer with a personal banker then our contacts wont help – we deal with the new biz section – and they wont touch existing customers.
I would call your PB and then go over his head – tell his boss you will be refinancing with Westpac unless they fix it to your satisfaction. I would suggest that you be prepared to refinance it if you need to.
Keep ging higher until you find someone able to help. Often the PB’s aren’t the sharpest employees of the bank.
All the best mate,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
NAB certainly isn’t the cheapest. Easy to better them on a vanilla deal. There are times when they are fantastic though.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Of course I am not saying I use them exclusively – but I have done deals using them that other brokers couldn’t because they wont even consider them.
I use them a lot because they will work closely with what I want to achieve and also will make things fit to get the deal through. They are also fantastic when time is short.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
There is only one reason I know of why most brokers wont use the NAB – regardless of what they tell their client. Everyone in the industry knows what I am talking about.
Find a broker who uses them actively and you found someone who is truly looking after the client first.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
My missus is an ER fan. As she is a medical student I am amazed. Usually people in the know pick these sorts of shows to pieces!
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Why a financial advisor? Thse guys aren’t as well versed in property as they should be – they are usually more into managed funds.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
That happened with my last purchase – the vendor snuck in a clause that I had to pay their land tax bill!
They withdrew it as soon as I saw it – just thought they’d try it on I guess.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I find the NAB terrific – in fact they work the closest with the broker of any of the majors.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
An additional disadvantage of a LOC is that it is accessible like a credit card and some folks find it easy to keep at the limit.
Regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Like a gated community?
Depends on the area I guess – country towns will have little need.
But a good idea all the same!!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Steve,
Prefer a beer afterwards…..
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I can’t see how owning much of a street will be too much of a problem.
I would do it a few at a time and play it by ear.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
60,000 equity does not sound like enough equity unless the property is worth $100,000 and the new purchase is under $150,000 or so to avoid mortgage insurance.
True – the numbers need to stack up. Even a reduction in LMI is worth it.
How can anyone advise on such little info?Cannot. If Falcon needs advice on structure he should contact a broker direct.
Regarding your question falcon, the answer is yes. Using equity in another property is not borrowing 100% though.
Thats just semantics. Falcon will be borrowing 100% of the purchase price of the new property regardless of securities used. 105% to cover costs might be even better.
All the best folks,
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Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
